Here's the $3 version as I found it at Restore.
I found this little beauty at our local Restore for $3. I love small projects that pack a big punch. In the back of my closet was a 1/2 yard of dragonfly upholstery fabric that was just waiting for this little stool.
I removed the screws that attached the cushion to the base. I then removed the staples and fabric that covered the cushion.
I used a new, thin muslin dishtowel to cover the cushion.
I placed the fabric, right side down, over the cushion. I gathered and pinned the corners, and these sewed curved darts to form the shape of the cushion cover.
After turning the fabric right side out, I pulled it over the cushion, being sure to line the corner seams neatly over the corners.
Turning the cushion over, the fabric edges were stapled to the board, easing the corners to keep it looking as smooth as possible.
The base was painted with three coats of apple green chalk paint, followed by a coat of clear wax.
To hide any gap between the base and cushion, a cotton braid was stapled to the top edge of the base.
The cushion was reattached to the base using L brackets.
Here is the freshened up footstool. In person, the green in the base really makes the dragonflies pop.